Irene and Lee cost NFIP less than $1bn
Total claims from Hurricane Irene have cost the US National
Flood Insurance Program (NFIP) less than $750mn, according to the
latest figures supplied by the Federal Emergency Management Agency
(Fema).
Immediately after the event speculation mounted that the NFIP could
be on the hook for a heavy claims bill, as flooding struck large
swathes of the north-eastern seaboard.
But so far the agency has paid out $742.2mn in claims for events in the whole of August - the month that...
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